UAE’s Emirates Islamic issues dirham-denominated sukuk valued at Dhs1bn

Emirates Islamic has successfully priced its inaugural Dhs1bn dirham-denominated sukuk. The bank’s sukuk sale will expand financing options for UAE corporations with Sharia’a-compliant needs while enhancing the development of the medium-term dirham yield curve. The three-year issue saw strong demand and was oversubscribed 2.5 times. The strong order book, which…